the next generation

Hoofer B · Jan 22, 2017

Do you sometimes hope that your children do not take over your farm or business? Kind of not worth the hassle or stuggle that you had to go thru. Sell it to someone else and just be done. Just curious.

Bryce Frazier · Jan 22, 2017

Leave you farm to me, I'll take REALLY good car of it!! I promise!!

David G · Jan 22, 2017

I have not intention of it, think it makes them weak.

coonie minnie · Jan 22, 2017

No. If my great great grandfather had that attitude, I wouldn't be here. Also, sharing your passion with your children is about the best thing you can do. Would you rather they spend their time doing drugs? Watch what their nonfarm friends do. It won't impress you.

I was visited today (impromptu) by a dairyman and his 25 year old daughter. They were looking at building a better milking facility. She had a degree in ag business, and was a very impressive young lady. And I think dad was damn proud to have her along, and driving the decision.

That type of stuff is priceless. It is about shaping a future.

mtf · Jan 22, 2017

That is something i think about constantly. I have known all along that farming is what God intended for me to do. I do have other interests I sometimes wonder if I had followed what if? I am the only family member left that farms. I bought and payed for my grandfathers farm that has been in my family since it was settled in 1886.

So after all that, my son will inherit all the farms. I want him to have that as a carear option, or anything else he might want to do. I do not want to force him into it. There are lots of other jobs a lot less stressful and demanding. Nathan

GreenEnvy · Jan 22, 2017

My opinion is if you are so down on farming that you wouldn't want your kids to consider following I'd say you shouldn't be farming either.

JD Seller · Jan 22, 2017

You need to educate your children well and give then the knowledge to make their own decisions about their lives. It is hard to not dominate them when they are younger but show them why and how you love what you do and then let them figure out what they want to do.

The real trouble comes in with asset transfer and generational growth. Your assets evenly divided among several children might make the business or farm unable to continue at a profitable level. So you need to look early into the next generation growing the business or farm so that it is still a viable operation. It is hard to do well and that is one reason many businesses and farms never get past the 2-3 generation.

Bob Bancroft · Jan 22, 2017

I despise the weather here in NY enough(for both health, and farming reasons) that I question whether I want family to carry on. All three of our offspring are long gone. A grandson is 9, loves it here when he gets the chance, and I'd like to hang on long enough to give him that chance. I don't know if his interest is just a child thing, or not. I do know that my fellow farmer friends who took over a family operation had it much easier, and are in a much more comfortable position than I. Any decision on grandsons part will be his. I am not pushing anyone. So, I will hang on for now, and if it gets to where I'm still here and he wants to try it, I'm not selling for big money. We will live here very frugally, like we always have, and give our progeny the best chance we can.

fixerupper · Jan 22, 2017

If farming isn't in their blood when they were born they will not want to go through the hassle. If they don't care to negotiate with the banker and come out feeling like a whipped pup they won't care for farming. If they don't like the feeling in the gut we get repeatedly when the weather man forecasts hail, they won't like farming. If they don't like to watch their potential income for the year dry up and turn brown under the hot sun during a drought they won't like farming.

And now with today's attitude toward agriculture if they don't like to listen to idealistic city people or idealistic hobby farmers run them down for raising too much GMO and BT corn that requires too much polluting fertilizer so more evil ethanol can be produced instead of food, they might be too thin skinned to be a modern farmer.

Russ from MN · Jan 22, 2017

If there weren't so many farmers maybe prices would be better. It's a supply and demand market, right?

gene bender · Jan 22, 2017

what do you mean ethanol instead of food its not hurting food supply one bit. The DDGs are in demand even shipped overseas. You don't call and expect a load today because of the demand.

Ray · Jan 22, 2017

I rented mine out and sold the machinery several years ago.Couldn't find any help and my son isn't interested.Make about the same money and I can play around with old tractors in my shop when I feel like it.

Bruce from Can. · Jan 23, 2017

Hi Bill, I see that you said "farm or business " , I think most that replied miss that . Business is business, whether child wants to /can run the business , is a tough decision for any parent , regardless of whether it is a farm business or a hardware store, restaurant, or any other business. Most folks that start and run businesses are for the most part "the business". They are the drive , and the one who knows what it takes to make it run , and willing to sacrifice their own time , comfort money , and sometimes their own family to make the business a success. Not everyone fits this order , and maybe that is a good thing . This doesn't mean a child can't be as dedicated to the family business ,understand it , and do a good job at the requirements of the business as the founder , but I think what you are asking is . Do you think it is fair to the child to send them in the same direction as the parent had chosen ? This is indeed a tough question , and in my own case I have let my kids decide for themselves , and all I can do is try to provide for them the chance . Only one of my three sons wants to milk cows , and the other two , don't want to live this kind of life , and that is fine with me. Fellas that don't like what they do , don't tend to do a very good job. Best of luck , Bruce

sms · Jan 23, 2017

Our area is depressed with high taxes and almost no good jobs, we told the kids to get an education and leave. They did and the best thing that ever happened.

Dick2 · Jan 23, 2017

I do not believe is distributing estate assets equally. That leave not enough assets for the one(s) that want to farm to make a living; destroys their chances of succeeding.

My sister & BIL left all of the land and machinery to the one that stayed on the farm. Cash assets went to the other son - who quickly spent the money and is now broke again.

K Effective · Jan 23, 2017

We've had "the conversation" with our kids, none want to become the fourth generation of part-time farmers here. They have seen how much I love doing it, but it is hot, sweaty, cold, smelly and time-consuming. There is not much financial reward for the time spent.

I wish one of them had connected with me out here, their Mom is glad they did not. I am working hard to ensure they are super successful with their choice of career, starting with a debt-free degree. They have all learned how to work hard when asked, a trait many never learn.

I have actually started to think about alternatives to dying here.

rrlund · Jan 23, 2017

If it hadn't been in the family for nearly 100 years I'd rather sell it. My oldest son wants to keep it in the family,so I'm stuck with it until he can afford to buy it or until I die,whichever comes first.

wilson ind · Jan 23, 2017

when you die he is going to get it then. Why not give it to him now. 5 years ago I gave my farm to my 3 kids with me keeping a life estate. Solved the problem of nursing home look back after 7 years.

wilson ind · Jan 23, 2017

Thanks to Country lawyer John T

rrlund · Jan 23, 2017

It hasn't come to that yet. I'm only 61. The wife's a few years younger than I am. We have three kids. They all think the older boy should get it,but we need the land contract income from selling it or the income from farming it,one or the other. I told him if he's waiting for me to die,he might get it by the time he's ready to retire himself. He said that fine with him. lol

Eldon (WA) · Jan 23, 2017

(quoted from post at 17:51:19 01/22/17) Leave you farm to me, I'll take REALLY good car of it!! I promise!!

Bryce you can buy mine....I'm putting it up for sale in a couple of months....

Eldon (WA) · Jan 23, 2017

(quoted from post at 17:41:52 01/22/17) Do you sometimes hope that your children do not take over your farm or business? Kind of not worth the hassle or stuggle that you had to go thru. Sell it to someone else and just be done. Just curious.

Kids?? What kids

The Dukester · Jan 23, 2017

I sure wish I had had one to inherit, a good big one at least. My two brothers and I actually could have inherited our grandparent' s 90 acre farm if at the time of their passing any of us would have still been living in the area I guess, but one of us was in the army in Viet Nam, one of us in college in Kansas, and I lived in California with my wife, two children and a recently bought home there,....So, the little 90 acres wasn't enough to get any of us to take it......we took the inheritance in money....(what little was left after caring for our grandmother in a resthome for nearly three years). We three brothers are all living in our old home area now, retired, and "playing around" with antique tractors and equipment and could use about 40-50 acres of land to play on, but none of us feels we can afford it because land is quite expensive here now, especially decent farm land........Oh well, we're lucky to still be in decent health and have what we do have and able to enjoy it...Thank God.

Brown Swiss · Jan 23, 2017

I agree, look at how much food is thrown away!

BarnyardEngineering · Jan 23, 2017

(quoted from post at 11:37:02 01/23/17) I agree, look at how much food is thrown away!

But think how much LESS farmers would be getting if the food wasn't thrown away! It would make food virtually worthless.

The value in food is that it is perishable, and can't be stored easily and cheaply for long.

Your attitude should be: Throw it all away, we'll grow more!

Vito · Jan 23, 2017

I will say it is up to them. We can only guide them so much.

Vito

indianabuckman · Jan 23, 2017

wilson ind, how does a life estate work?

wilson ind · Jan 23, 2017

talk to John T for best information basically I have complete control of the place except for selling it. I could cut timber lease out cropland or whatever. any life estate can be tailored I guess . Mine is with family so I am at great liberty. I have amble cast for health care but as my doctor son put it if one is setting on a nursing home sucking oatmeal through a straw the farm assets could go fast. My parents planned well. Mom liver 15 years past dad. She though she had too much money being good sons my brother and I agreed and helped her giv us, wifes, all grandchildren 11,000.00 per year. tax free

the next generation

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